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CRAGAR Establishes Relationship With Trenwith Securities

6 July 1998

CRAGAR Establishes Investment Banking Relationship With Trenwith Securities, Inc. to Implement Acquisition Strategy

    PHOENIX, July 6 -- CRAGAR Industries, Inc. has
retained Trenwith Securities, Inc., an investment banking firm with offices in
Orange County, California, to assist CRAGAR in evaluating, negotiating,
closing and funding possible acquisitions and/or strategic alliances.
    In discussing why CRAGAR chose Trenwith, Michael L. Hartzmark, President
and CEO of CRAGAR, remarked, "We evaluated a number of alternatives.  Trenwith
has the experience, connections with major investment banks, success rate and
network to help us achieve our goal of growing CRAGAR through possible
strategic acquisitions and/or alliances.  Trenwith brings the necessary tools
to assist us in maximizing shareholder value."
    Andrew Boyd-Jones, a Principal at Trenwith, added, "Although successfully
implementing CRAGAR's acquisition strategy will be a challenge, the Company's
brand name, management, core product sales and distribution base provide a
wonderful platform for growing a powerful automotive performance company."
    CRAGAR Industries, Inc. is an international designer, producer, and seller
of custom wheels and wheel accessories for cars, trucks, vans, sport utility
vehicles, racing vehicles, and motorcycles.
    For additional information, contact Michael L. Hartzmark, President and
CEO, 602-247-1300.  Internet address:  http://www.prnewswire.com/cnoc.  To
obtain hard copies, call Fax-On-Demand at 800-758-5804.
    This release includes statements which may constitute forward-looking
statements made pursuant to the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995.  Such forward-looking statements
include, among other items, statements regarding the Company's business
strategy, gross strategy, anticipated synergies and benefits resulting from
potential acquisitions and future acquisition plans, and anticipated trends in
the Company's business.  Forward-looking statements are inherently subject to
risks and uncertainties, some of which cannot be predicted or quantified.
Future events and actual results could differ materially from those set forth
in, contemplated by, or underlying the forward-looking statements.  Please
refer to the Risk Factors in the Company's filings with the Securities and
Exchange Commission which identify certain important factors that could cause
the actual results to differ materially from those contained in our forward-
looking statements.  These factors include, but are not limited to, the
bankruptcy of the Company's primary customer, dependence on external
financing, product availability, market conditions, as well as general
economic conditions.  In view of the significant uncertainties inherent in the
forward-looking statements discussed above, the inclusion of such information
should not be regarded as a representation by the Company or any other person
that the objectives and plans of the Company will be achieved or that any
acquisitions will be consummated.